{"id":30048,"date":"2021-06-02T16:21:55","date_gmt":"2021-06-02T16:21:55","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=30048"},"modified":"2021-06-02T15:53:07","modified_gmt":"2021-06-02T15:53:07","slug":"ifem-value-of-transactions-down-8pc","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc","title":{"rendered":"IFEM value of transactions down 8pc"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>INTERBANK Foreign Exchange Market (IFEM) value of transactions dropped by 7.8 per cent last week, as shilling slipped above 2,310\/- level for the first time at the market.<\/p>\n

The IFEM total turn-over during the week amounted to 4.15million US dollars while the weighted average exchange rate for shilling spike by 2 percentage in points (pips) higher than the previous week.<\/p>\n

Orbit Securities noted in its weekly market synopsis that the market crosses the mark last week as the value of the transaction dropped.<\/p>\n

\u201cThe shilling crosses above 2,310\/- against a dollar for the first time on the IFEM,\u201d Orbit said without giving a reason.<\/p>\n

However, on Monday, some banks quoted the local currency trading steady at 2,338\/- a greenback due to moderate activity from importers.<\/p>\n

\u201cWe have observed quite a trading session on the last day of the [last] month, with less activity from larger importers. \u201cInflows from mineral dealers, Agri and charities continue being main support to the current demand, NMB Bank stated in its e-Market report. The bank stated further that the local market anticipated to \u201cremain steady throughout this week\u201d. The shilling, according to Bank of Tanzania data, traded steadily at around 2,309\/- a dollar since January but lost strength and slipped to 2,310 late last month.<\/p>\n

In Uganda, the Ugandan shilling was trading in a broadly stable position on the back of slow importer appetite for hard currency and customary end of month inflows.<\/p>\n

Commercial banks quoted Uganda\u2019s shilling at 3,540\/3,550, compared with last Thursday\u2019s close of 3,560\/3,570. While in Kenya, the shilling was expected to trade in a tight band in the next week as a healthy supply of dollars from exporters offsets any rising demand.<\/p>\n

The currency of East Africa\u2019s richest economy was trading at 107.45\/65 per dollar last Thursday, up from 108.10\/30 the previous week. It will be stuck in a range of 107\/- and 108\/- over the next few days, currency traders said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. INTERBANK Foreign Exchange Market (IFEM) value of transactions dropped by 7.8 per cent last week, as shilling slipped above 2,310\/- level for the first time at the market. The IFEM total turn-over during the week amounted to 4.15million US dollars while the weighted average exchange rate for shilling spike by 2 percentage […]<\/p>\n","protected":false},"author":84,"featured_media":30047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-30048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nIFEM value of transactions down 8pc - Tanzania<\/title>\n<meta name=\"description\" content=\"INTERBANK Foreign Exchange Market (IFEM) value of transactions dropped by 7.8 per cent last week, as shilling slipped ab ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFEM value of transactions down 8pc\" \/>\n<meta property=\"og:description\" content=\"INTERBANK Foreign Exchange Market (IFEM) value of transactions dropped by 7.8 per cent last week, as shilling slipped ab ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-02T16:21:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/06\/img-60b7a94bacb6b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"439\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IFEM value of transactions down 8pc\",\"datePublished\":\"2021-06-02T16:21:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc\"},\"wordCount\":326,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/06\/img-60b7a94bacb6b.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ifem-value-of-transactions-down-8pc\",\"name\":\"IFEM value of transactions down 8pc - 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